Thursday, April 22, 2010
UK borrowing stretches well beyond any plume of smoke from Iceland
Government borrowing hit a record high of Â£163.4bn this year, official figures have shown. The borrowing figure for the 2009-10 financial year is lower than the Â£167bn predicted by Chancellor Alistair Darling in April's Budget. Including financial intervention measures, borrowing totalled Â£152.8bn - lower than the Â£155.9bn forecast. It is the biggest annual borrowing figure for a UK government in peacetime.